https://arab.news/p8qdc
- NayaPay and DealCart made it to the list of companies from 16 countries after raising $16 million in seed funding
- The annual list features companies recognized for innovation and potential to disrupt their respective markets
ISLAMABAD: Two Pakistani startup companies have made it to the Forbes Asia 100 To Watch 2024 list, published by the American business magazine on Tuesday, highlighting the South Asian nation’s growth in the competitive landscape of e-commerce and finance.
Fintech company NayaPay and retail startup DealCart, led by Chief Executive Officers Danish Lakhani and Haider Raza, respectively, have raised a total of $16 million in funding and made it to the annual ranking of 100 small companies and startups in the Asia-Pacific region.
The list features companies recognized for their innovation, growth and potential to disrupt their respective markets.
This year, companies from 16 countries are represented on the list, operating across 10 industries, including enterprise technology and robotics, finance, manufacturing and energy.
“NayaPay raised $13 million in a 2022 seed funding round led by Zayn Capital, MSA Novo and Graph Ventures,” Forbes said in an article, adding that DealCart also “raised $3 million in a seed funding round co-led by Abu Dhabi-based Shorooq Partners and London-based Sturgeon Capital” in July.
NayaPay is a fintech startup that operates a payment processing platform in Pakistan, aiming to help digitalize transactions between consumers and businesses, it said, adding that the online app supported an e-wallet, virtual debit card and online payments whereas NayaPay also offered businesses with point-of-sale devices that can be installed in stores.
According to Forbes, DealCart is an e-commerce and retail startup headquartered in Karachi that operates an online grocery store targeting Pakistan’s growing middle class where fruits, vegetables, snacks, detergents and other sundries can be ordered. Small grocery stores can also sell on DealCart to tap its customer base, it said.
In May, a group of seven Pakistanis featured in the popular Forbes 30 Under 30, earning international recognition for their leadership abilities in their professional fields. These included fintech entrepreneurs Aleena Nadeem and Sarkhail Bawany, filmmaker Bushra Sultan, Trukkr co-founder Kasra Zunnaiyyer, and Linkstar founders Adeel Abid, Aizaz Nayyer and Ali Raza.
In March, Forbes named two Pakistanis in its list of the Middle East’s 100 Most Powerful Businesswomen for the year 2024 which included Shaista Asif, co-founder and group chief executive officer (CEO) of PureHealth Holding health care network in the United Arab Emirates (UAE) and United Bank Limited and Board Risk & Compliance Committee board member Shazia Syed.